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1099-MISC Instructions You Won’t Find Anywhere Else

By Carol / November 4, 2019 /
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Let us guess. What you really want is not just basic 1099-MISC instructions. You want the inside scoop on how to deal with this task so you can cross it off your list. You want peace of mind that you are complying with IRS requirements. And if you’ve ever been through a “hair on fire” January…

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Nonprofit Balance Sheet Framework

By CarolCarrie / October 7, 2019 /
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  If you are struggling to understand a nonprofit balance sheet and other financial statements, then this post is for you! And it’s especially for you if you are not a “numbers person.” Chances are you’ve looked at your organization’s profit and loss report and never thought much about the balance sheet. If that’s the…

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Bad Debt

By CarolCarrie / September 23, 2019 /
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In our last two ports of call on our Chart of Accounts Grand Tour, we visited Accounts and Pledges Receivable and also looked at Accounts Receivable Aging and Due Dates. Today we visit a related topic, bad debt, and take a look at the bad debts entry you need to make in your books. We find…

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Volunteer Travel Expenses

By CarolCarrie / September 3, 2019 /
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In response to our blog post Managing Travel in Nonprofit Organizations, Kate Feibusch from Peten Health asked: “My NPO’s mission is to train health workers in Guatemala. May we pay airline costs for volunteer teachers?  If those teachers also give a donation to the organization which is roughly the amount of their airfare, may we…

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Managing Travel in Nonprofit Organizations

By CarolCarrie / August 5, 2019 /
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Does your nonprofit reimburse travel for staff and volunteers? One of our clients, a youth soccer organization, sends players to a national tournament. The trip entails paying for airfare for the teenagers and chaperones as well as meals and lodging while at the tournament location. Plus there are miscellaneous expenses such as mileage or cab…

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Highlights of ASU 2016-14

By CarolCarrie / July 1, 2019 /
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We have noticed a lot of people searching for more information about ASU 2016-14. If your organization is on a calendar year, you may be going through your annual audit over the summer and having to deal with the new requirements. So we thought we’d give you a giraffe’s eye view of what you need…

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Nonprofit Cash Reserves: What To Do with Too Much Cash?

By CarolCarrie / June 3, 2019 /
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Recently we noticed an enviable problem with several of our clients. What to do with all that cash piling up? Here are stories of three nonprofits with too much cash and how they handled it. At the end of the post we provide more information about reserves and quasi endowment. Organization #1 The first organization…

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Capitalize or Expense Building Improvements?

By CarolCarrie / May 6, 2019 /
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Recently a client came to us with a question about whether she should capitalize or expense a new interior door that replaced an old door within their building. The new door was heavy duty, fire resistant, and contained a window to facilitate monitoring of vulnerable clients. It was much more expensive than the standard door…

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An Executive Director Reflects on Bringing Bookkeeping In-House

By CarolCarrie / April 1, 2019 /
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Recently Carol sat down with Lynda (not her real name), an executive director who brought bookkeeping in-house in 2018 for the nonprofit organization she leads. We worked closely with Lynda to help her manage the transition. Now that the monthly bookkeeping process has settled into more of a routine, we took a few minutes to…

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A Nonprofit Parking Tax???

By CarolCarrie / March 4, 2019 /
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Yes, starting Jan. 1, 2018, Congress is implementing a nonprofit parking tax. Hidden in the 2017 Tax Cuts and Jobs Act is a provision taxing employer-provided parking for nonprofit organizations. Nonprofits have long been subject to tax on unrelated business income (UBI), which is reported on Form 990-T. This new tax, however, is a tax…

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